UNITEDSTATES

SECURITIESAND EXCHANGE COMMISSION

Washington,D.C. 20549

 

FORM10-QSB

 

[X]QUARTERLY REPORT UNDER SECTION 13 OR 15(d)

OFTHE SECURITIES EXCHANGE ACT OF 1934

 

[] TRANSITION REPORT PURSUANT TO SECTION 13 OR

15(d)OF THE SECURITIES EXCHANGE ACT OF 1934

 

Forthe quarterly period ended: June 30, 2004

 

Commissionfile number 000-26309

 

INTEGRATEDENVIRONMENTAL TECHNOLOGIES, LTD.

(FormerlyNaturol Holdings Ltd.)

(Exactname of small business issuer as specified in its charter)

 

| **Delaware**98-0200471
(State      or other jurisdiction of
(I.R.S.      Employer
incorporation      or organization)
Identification      Number)
 
**4235      Commerce Street
 
**Little      River, South Carolina**29566
(Address      of Principal Executive Offices)
(Zip      Code)
 

**(843)390-2500**

(Issuer'stelephone number, including area code)

 

Checkwhether the issuer (1) filed all reports required to be filed by Section 13 or15(d) of the Securities Exchange Act of 1934 during the last 12 months (or forsuch shorter period that the registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days.

 

YesX No ____

 

Thenumber of shares of Common Stock, $0.001 par value, outstanding on June 30,2004, was 17,224,793 shares.

 

TransitionalSmall Business Disclosure Format (check one):

 

YesNo X
 

 

PARTI - FINANCIAL INFORMATION

Item 1.Financial Statements.

 
**IntegratedEnvironmental Technologies, Ltd.

(formerlyNaturol Holdings, Ltd.)

(ADevelopment Stage Company)

CondensedConsolidated Balance Sheet

 **
June      30,

2004
December      31,

2003
(Unaudited)
(Audited)
Assets
Current      Assets:
          Cash
$                       173,949
$                       284,221
          Inventory
15,000
15,000
          Deposits and prepaid assets
125,158
2,526
               Total current assets
314,107
301,747
Building
479,268
-
Equipment
5,536
3,547
Accumulated      depreciation
(5,613)
(296)
               Total building and equipment
479,191
3,251
Other      asset-license agreement net of accumulated amortization of $4,237 and      $1,695 at 6/30/04 and 12/31/03
 

70,763
 

73,305
$                       864,061
$                        378,303
Liabilities      and Stockholders' Equity
Current      liabilities:
          Accounts payable
$                       102,513
$                         61,945
          Current maturity of long-term debt
15,000
-
          Notes payable
25,000
5,000
               Total current liabilities
142,513
66,945
Long-term      debt, net of current maturities
297,361
-
Stockholders'      Equity
          Common stock 200,000,000 shares authorized par value $.001, 17,224,793 and      5,068,741 shares issued and outstanding at June 30, 2004 and December 31,      2003
17,225
5,069
          Stock bought not issued
29,805
7,306
          Paid-in-capital
1,286,426
812,980
          Deficit accumulated during the developmental stage
(909,269)
(513,997)
               Total stockholders' equity
424,187
311,358
               Total liabilities and stockholders' equity
$                        864,061
$                        378,303
 

 
**Seenotes to condensed consolidated financial statements**
 

1

 

 
**IntegratedEnviromental Technologies, Ltd.

(formerlyNaturol Holdings, Ltd.)

(ADevelopment Stage Company)

CondensedConsolidated Statement of Operations

Unaudited

 **
 

 

Three      Months

Ended

June      30, 2004
 

 

Three      Months

Ended

June      30, 2003
 

 

Six      Months Ended June 30, 2004
 

 

Six      Months Ended June 30, 2003
From

Inception

(June      18, 2001)

to

June      30, 2004
Professional      fees
$                 79,251
$               14,000
$           114,187
$             14,000
$                 350,032
Administration      fee
-
-
20,000
-
120,600
Salary
46,067
-
159,222
-
188,222
License      fee
-
-
-
-
50,000
Depreciation      and amortization
4,207
-
7,860
-
9,851
Rent
7,100
-
10,975
-
22,225
Expense      of affiliate
-
-
-
-
3,875
Product      testing
-
-
-
-
10,750
Office      & miscellaneous expense
40,715
30
53,043
56
84,305
Travel      & entertainment
24,028
-
27,379
-
49,538
201,368
14,030
392,666
14,056
889,398
Other      income (expense):
          Interest income
(664)
-
(805)
-
(805)
          Interest expense
2,176
5,782
3,411
5,782
20,676
1,512
5,782
2,606
5,782
19,871
Net      loss
$                202,880
$               19,812
$           395,272
$             19,838
$                  909,269
Net      loss per share basic and diluted
$                    (0.02)
$                 (0.00)
$               (0.05)
$               (0.00)
$                     (0.11)
Weighted      average shares outstanding
 

8,526,098
 

8,442,650
 

8,526,098
 

8,442,650
 

8,039,370
 

 
**Seenotes to condensed consolidated financial statements**
 

2

 

 
**IntegratedEnviromental Technologies, Ltd.

(formerlyNaturol Holdings, Ltd.)

(ADevelopment Stage Company)

CondensedConsolidated Statement of Cash Flows**
**Unaudited**

 

 

 

Six      Months

Ended

June      30, 2004
 

 

Six      Months

Ended

June      30, 2003
From

Inception

June      18, 2001

to

June      30, 2004
Cash      flows from operating activities:
          Net loss
$      (395,272)
$      (19,838)
$      (909,269)
          Adjustments to reconcile net loss to net cash used in operating activities      -
 
 
 
               Depreciation and amortization
7,859
-
9,850
               Warrants issued for services
-
-
17,500
               Stock issued for services
78,000
-
128,000
Changes      in operating assets and liabilities:
          Inventory
-
-
(15,000)
          Deposits and prepaid assets
(122,632)
-
(125,158)
          Accounts payable
90,569
9,000
102,513
          Cash used in operating activities
(341,476)
(10,838)
(791,564)
Cash      flows from investing activities:
          Purchase of building and equipment
(481,258)
-
(484,805)
          Advances on notes receivable
-
(4,500)
-
          Purchase of license agreement
-
-
(75,000)
          Cash used in investing activities
(481,258)
(4,500)
(559,805)
Cash      flows from financing activities:
          Payments on long-term debt and net notes payable
(6,389)
15,282
227,717
          Increase in note payable, net
20,000
-
20,000
          Increase in long-term debt
318,750
-
318,750
          Proceeds from stock bought not issued
29,805
-
29,805
          Proceeds from the sale of common stock
350,296
-
929,046
          Cash provided by financing activities
712,462
15,282
1,525,318
Increase      (decrease) in cash
(110,272)
(56)
173,949
Cash      beginning of period
284,221
243
-
Cash      end of period
$                       173,949
$                              187
$                      173,949
Supplemental      disclosure of cash flow information:
          Cash paid for interest
$                           3,411
$                                   -
$                         21,911
          Cash paid for income taxes
-
-
-      -
Noncash      financing activities:
          Stock issued for subscription receivable
$                                   -
$                                   -
$                         28,400
          Stock issued and note assumed in reverse merger
-
-
52,765
          Stock returned to the Company and cancelled
-
-
9,931
          Reverse stock split
-
-
60,000
          Stock issued for accounts payable through exercise of warrants
50,000
-
50,000
          Stock issued for conversion of note payable
-
-
255,605
 

**Seenotes to condensed consolidated financial statements**

 

3

 

 

**IntegratedEnviromental Technologies, Ltd.**
**(formerlyNaturol Holdings Ltd.)

(ADevelopment Stage Company)

NotesTo Condensed Consolidated Financial Statements**
 

**Note1 - Basis of Presentation**

 

       The unaudited condensed financial statements have been prepared in accordancewith United States generally accepted accounting principles for interimfinancial information and with the instructions to Form 10-QSB and reflect alladjustments which, in the opinion of management, are necessary for a fairpresentation. All such adjustments are of a normal recurring nature. The resultsof operations for the interim period are not necessarily indicative of theresults to be expected for a full year. Certain amounts in the prior yearstatements have been reclassified to conform to the current year presentations.The statements should be read in conjunction with the financial statements andfootnotes thereto included in our Form 10-KSB for the year ended December 31,2003.

 

       We changed our name to Integrated Enviromental Technologies, Ltd. on April 23,2004.

 

       Our business is in the development stage and our major activities to date havebeen limited to developing and implementing our business plan, establishingbusiness strategies and raising equity.

 

       The financial statements include our wholly owned subsidiary, I.E.T., Inc., aNevada corporation. All significant inter-company transactions and balances havebeen eliminated.

 
**Note2 - Going Concern**
 

       The accompanying condensed consolidated financial statements have been preparedassuming that we will continue as a going concern. Our ability to continue as agoing concern is dependent upon attaining profitable operations based on thedevelopment of products that can be sold. We intend to use borrowings andsecurity sales to mitigate the affects of our cash position, however, noassurance can be given that debt or equity financing, if and when required, willbe available. The financial statements do not include any adjustments relatingto the recoverability and classification of recorded assets and classificationof liabilities that might be necessary should we be unable to continue inexistence.

 
**Note3 - Long-Term Debt**
 

       The long-term debt is a mortgage on a building we acquired on February 20, 2004.The interest rate is .5% over the bank prime rate and can be adjusted daily witha maximum interest rate of 8% and a minimum interest rate of 4.5%. The currentrate is 4.5% and the term of the loan is five years on a 30-year amortizationwith the final principal payment due 2/22/09.

 
**Note4 - Common stock and warrants**
 

       All of the shares that were recorded as bought but not issued at December 31,2003 were issued in the first quarter.

 

4

 

 
**IntegratedEnviromental Technologies, Ltd.

(formerlyNaturol Holdings Ltd.)

(ADevelopment Stage Company)

NotesTo Condensed Consolidated Financial Statements**
 

       We sold 4,200,000 shares of our stock in the first quarter of 2004 for a netamount of $350,296. The cost relating to the security sales was $69,024. Thiswas netted against the sale proceeds. Cost consisted of mainly travel expensesby a shareholder who was assisting us in the sale of our stock.

 

       In June 2004, we received of $29,805 for the purchase of units, consisting ofshares of our common stock and commons stock purchase warrants. As of June 30,2004, the shares were not issued and the deposit is recorded as a reduction ofequity in the account stock bought not issued.

 
**Note5 - License agreement**
 

       On September 4, 2003, we entered into a license agreement with Electro-ChemicalTechnologies, Ltd. (licensor) and Laboratory of Electrotechnology Ltd (supplier)whereby we have an exclusive, royalty-bearing license under the patents and thetechnical information to purchase, manufacture/assemble (with the exceptions offlow-through electrolytic modules FEM), market, lease, sell, distribute andservice Licensed Products throughout the territory for use in licensedapplications, provided, however, that licensor/supplier shall retain theexclusive right to manufacture/assemble FEM's and to supply FEM's to licensee.The license period goes through the date of the last expiration of the patent ofthe technology (5/2018). A fee of $75,000 was paid for the agreement and the feeis amortized over the period of September 2003 through May 2018. There will be aroyalty of 8% of the net sales price due on any sales that we have made. Theamortization for the six month period ended June 30, 2004 was $2,542.

 
**Note6 - Deposits and prepaid assets**
 

       We have recorded a deposit of $36,000 paid to Electro-Chemical Technologies,Ltd. for the purchase of 600 FEM's that are in our inventory and located in ourphysical plant.

 

       We have recorded a deposit of $84,000 paid to SPDG Naturol Ltd., not related toany of our companies, for an extraction plant with a capacity of 150 Liters. Wehave not received this plant as of June 30, 2004.

 

       We have prepaid insurance of $3,657 relating to our building. The insurance willbe amortized over the one-year life of the policy. The remaining deposits relateto office space at a former location.

 
**Note7 - Related party transactions**
 

       On June 11, 2004, one of our shareholders loaned us $25,000 on a demand note. Wewill accrue interest at a 6% rate.

 

5

 

 
**IntegratedEnviromental Technologies, Ltd.

(formerlyNaturol Holdings Ltd.)

(ADevelopment Stage Company)

NotesTo Condensed Consolidated Financial Statements**
 
**Note8 - Subsequent events**
 

       On July 13, 2004 our Board of Directors authorized the issuances of shares toemployees and directors for the 1st and 2nd quarters. The number of shares was195,000.

 

       On August 5, 2004 our Board of Directors authorized the issuances of shares toemployees and directors for the 3rd and 4th quarters of 2004. The number ofshares was 193,000.

 

       We received deposits of $59,616 after June 30, 2004 for the purchase of units,consisting of shares of our common stock and common stock purchase warrants.

 

6

 

 

FORWARD-LOOKINGSTATEMENTS

 

       This document contains "forward-looking statements" within the meaningof the Private Securities Litigation Reform Act of 1995. All statements otherthan statements of historical fact are "forward-looking statements"for purposes of federal and state securities laws, including, but not limitedto, any projections of earnings, revenue or other financial items; anystatements of the plans, strategies and objections of management for futureoperations; any statements concerning proposed new services or developments; anystatements regarding future economic conditions or performance; any statementsor belief; and any statements of assumptions underlying any of the foregoing.

 

       Forward-looking statements may include the words "may,""could," "will," "estimate," "intend,""continue," "believe," "expect" or"anticipate" or other similar words. These forward-looking statementspresent our estimates and assumptions only as of the date of this report. Exceptfor our ongoing securities laws, we do not intend, and undertake no obligation,to update any forward-looking statement.

 

       Although we believe that the expectations reflected in any of ourforward-looking statements are reasonable, actual results could differmaterially from those projected or assumed in any or our forward-lookingstatements. Our future financial condition and results of operations, as well asany forward-looking statements, are subject to change and inherent risks anduncertainties. The factors impacting these risks and uncertainties include, butare not limited to:
-  increased    competitive pressures from existing competitors and new entrants;increases    in interest rates or our cost of borrowing or a default under any material    debt agreements;deterioration    in general or regional economic conditions;adverse    state or federal legislation or regulation that increases the costs of    compliance, or adverse findings by a regulator with respect to existing    operations;loss    of customers or sales weakness;inability    to achieve future sales levels or other operating results;the    unavailability of funds for capital expenditures and/or general working    capital; andoperational    inefficiencies in distribution or other systems.
       For a detailed description of these and other factors that could cause actualresults to differ materially from those expressed in any forward-lookingstatement, please see "Factors That May Affect Our Plan of Operation"in this document and "Risk Factors" in our Annual Report on Form10-KSB for the year ended December 31, 2003.

 
**Item2. Plan of Operation.**
 
**Overview**
 

       Since January of 2002, following our merger with a private company wherein weacquired certain essential oil extraction technologies, we have been attemptingto establish our Company as a technology driven company in the essentialoils 

 

7

 

 

extractionbusiness. We have since determined that the initial extraction technology, whichwe acquired in the private company merger, utilized solvents that have beenoutdated with newer and more effective solvents. In October 2003, we determinedthat SPDG Naturol, Ltd. had access to additional technologies in the oilextraction business, which resulted in our entering into a letter agreement tojointly develop newer and more effective solvents, while concurrently raisingsufficient capital to continue setting up operations.

 

       We must achieve profitability and sustainable cash flows for our business modelto succeed. To the extent that we have not yet achieved these objectives, wemust continually evaluate both our current and long-term business plan andcapital requirements. While the validation of our business plan is ongoing, wehave identified and begun to implement certain critical components.

 

       We have strengthened our financial position with the receipt of an aggregate of$449,805 in new investment financing in the first two quarters of 2004 and$59,616 subsequent to the June 30, 2004 quarter end. There can be no assurancethat additional financing would be available or, if it is available, that itwould be on acceptable terms.

 

       We have established a contractual arrangement with Coastal Carolina Universityto assist us in the documentation of research with appropriate lab work, as wellas serving as a liaison with Clemson University, based on the specific needs ofour Essential Oils Division and our EcaFlo Division.

 

       We have previously indicated that our primary focus for 2004 is completing thedevelopment and commercialization of certain EcaFlo device(s) development andimplementing a brand identity recognition campaign. We are currently involved infinalizing designs for three EcaFlo devices/generators: 1) HydroPur, 2) HydroSan,and 3) HydroCide. Commercialization of our EcaFlo devices entails many steps andvariables, some of which are not under our control. We expect that differentregulations may further complicate the commercialization process. As a result,we are unable to predict with any certainty a timetable for the various stepsand milestones required for the successful commercialization of ourdevelopmental stage products. Nevertheless, we believe that the primarymilestones necessary to achieve commercialization of our EcaFlo devices includethe following:
-  Achievement    of desired performance in evaluations. Initial demonstrations projects and    resulting lab work through Coastal Carolina University have shown positive    results.Entrance    into supply arrangements with strategic manufacturers. Further    initiation of distribution efforts for commercial sale. Prediction    with certainty of the amount of investment required.
       Our operating cash burn rate for the quarter ended June 30, 2004 averagedapproximately $55,000 per month. Our cash balance as of June 30, 2004 was$173,949 and in the absence of any unanticipated material costs and expensesthat are not factored into our cash flow projections, are anticipated to beinadequate to sustain our operations at expected levels through 2004, which,without raising additional funds, will inhibit our ability to pursue thecommercialization of products currently in development. Consequently, we areseeking to raise additional capital; however, we may not be able to obtainadditional financing on acceptable terms, or at all.

 

8

 

 

       Our cash flow requirements may vary materially from those now planned due tomany factors, including, but not limited to, the progress of our research anddevelopment of our products, the scope and timing of strategic alliances, thecosts and timing of the expansion of our manufacturing capacity, the results oftesting, the magnitude of capital expenditures, changes in existing andpotential relationships with business partners, the time and costs of obtainingregulatory approvals, the costs involved in obtaining and enforcing proprietaryrights and other necessary licenses, the cost and timing of expansion of salesand marketing activities, the timing of the commercial launch of our products,market acceptance of our EcaFlo devices and essential oil products, competingtechnological and market developments, and the ability to raise additionalcapital in a timely manner.

 

       There can be no assurance that subsequent additional financing, if and asnecessary, would be available, or if it is available, that it would be onacceptable terms. The terms of an additional financing could involve a change ofcontrol and/or require stockholder approval. We would or might be required toconsider strategic opportunities, including merger, consolidation, sale or othercomparable transaction, to sustain our operations. We do not currently have anyagreements in place with respect to any such new strategic opportunity, andthere can be no assurance that any such opportunities will be available to us onacceptable terms, or at all. If additional financing is not available when andif required or is not available on acceptable terms, or we are unable to arrangea suitable strategic opportunity, we will be in significant financial jeopardyand we may be unable to continue our operations at current levels, or at all.

 
**Planof Operation**
 

       Our current plan of operation is to focus on the commercial application of boththe Essential Oils extraction process and EcaFlo technologies.

 
**EcaFloDivision**
 

       Our plan provides for commencing production of small volume water purificationunits and custom demonstration units for wastewater treatment by the end of thethird quarter of 2004. Additionally, concurrent with our finalizing contractualagreements, we intend to commence the distribution of small volume waterpurification units to the recreational vehicle and camping industry and to homesupply outlets for in-home models. We have paid a deposit of $36,000 toward thepurchase of the main components of these units, the "FEMs". The FEMsare in our inventory and we are proceeding with finalizing designs.

 
**EssentialOils Division**
 

       We are furthering our goal to initiate production of essential oils frombotanicals using the essential oil extraction process over the next twelvemonths. Our essential oil division is awaiting our 150 Liter oil extraction"plant" in order to begin implementing plans with Coastal CarolinaUniversity to utilize one-third of the capacity of a 150 Liter demonstrationunit for both research and production. The essential oils extracted are to bemarketed to nutraceutical, pharmaceutical, and food additive suppliers.Definitive markets are being developed in anticipation of the provision of thepurest essential oils.

 

9

 

 
***Satisfactionof our cash obligations for the next 12 months.***
 

       Our cash balance as of June 30, 2004 was $173,949 and $89,421 from our June 2004unit offering. We do not believe our cash on hand will provide sufficient cashfor the next 6 months. We plan on satisfying our additional cash obligationsover the next twelve months through additional equity and/or third partyfinancing. We do not anticipate generating revenues sufficient enough to satisfyour working capital requirements within the next twelve months. Consequently, wewill be required to seek additional capital in the future to fund growth andexpansion through additional equity or debt financing or credit facilities. Noassurance can be made that such financing would be available, and if availableit may take either the form of debt or equity. In the event we cannot obtain thenecessary capital to pursue our strategic plan, we may have to cease orsignificantly curtail our operations. This would materially impact our abilityto continue operations.

 

       Since inception, we have financed cash flow requirements through debt financingand issuance of common stock for cash and services. As we expand operationalactivities, we may continue to experience net negative cash flows fromoperations, pending receipt of product sales and/or servicing or licensing fees,and will be required to obtain additional financing to fund operations throughcommon stock offerings and bank borrowings to the extent necessary to provideworking capital.

 

       We anticipate incurring operating losses, at least through the first quarter offiscal 2005. Our lack of operating history makes predictions of future operatingresults difficult to ascertain. Our prospects must be considered in light of therisks, expenses and difficulties frequently encountered by companies in theirearly stage of development, particularly companies in new and rapidly evolvingmarkets such as technology related companies. Such risks include, but are notlimited to, an evolving and unpredictable business model and the management ofgrowth. To address these risks we must, among other things, implement andsuccessfully execute our business and marketing strategy, continue to developand upgrade technology and products, respond to competitive developments, andattract, retain and motivate qualified personnel. There can be no assurance thatwe will be successful in addressing such risks, and the failure to do so canhave a material adverse effect on our business prospects, financial conditionand results of operations.

 
**GoingConcern**
 

       The consolidated financial statements included in this filing have been preparedin conformity with generally accepted accounting principles that contemplate thecontinuance of the Company as a going concern. The Company's cash position maybe inadequate to pay all of the costs associated with testing, production andmarketing of products. Management intends to use borrowings and security salesto mitigate the effects of its cash position, however no assurance can be giventhat debt or equity financing, if and when required will be available. Thefinancial statements do not include any adjustments relating to therecoverability and classification of recorded assets and classification ofliabilities that might be necessary should the Company be unable to continueexistence.

 

10

 

 
***Summaryof product and research and development that we will perform for the term of ourplan.

 ***
EcaFloDivision

 

       Our current research and development has been enhanced with the execution of amanufacturers representative agreement with Pentagon Technical Services (PTS),located in Golden, Colorado. PTS is currently arranging for research anddemonstration projects to include: petroleum oil and gas well productionenhancement through the use of HydroSan produced biocide solutions for thetreatment of bacteria; biocide treatment of oil and gas well field injectionwater and the produced water from those fields; bacterial disinfection of winebarrels and equipment used in the production of wine; treatment of privateresidential drinking water systems for undesirable microbiological agents andaesthetics; disinfecting and cleaning applications of anolyte and catholytesolutions within the beer brewing industry. Initial laboratory testing ofaliquots of petroleum well frac waters treated with a 1% solution of EcaFloanolyte showed total bacteria kill in less than 10 minutes.

 

       Other demonstrations which are in initial laboratory test stages includetreatment of municipal stormwater where bacteria growth has reached unsafelevels. Initial test results have shown the anolyte solutions from an EcaFloHydroSan unit to be a highly effective anti-bacterial agent that quickly killsbacteria in stormwater, returning the bacterial content to a safe level.Research is being conducted on the compatibility of EcaFlo solutions with newtechnologies being evaluated for the treatment of hog waste and lagoons.

 

       Additional research will be conducted to identify opportunities where we canprovide value added services to food production and processing, medical andhealthcare, hospitality, institutional and defense applications.

 

       As demonstrations and trials are successfully accomplished, design of equipmentcustomized to meet customer needs is expected to begin in the fourth quarter of2004.

 

       Research and development will continue over the next twelve months for theEcaFlo Division to identify and design Ecaflo solution delivery systems foradditional applications. Demonstration projects continue to be identified andare evaluated. These projects facilitate wastewater treatment for residentialpackage plants, municipal storm water run-off water treatment purposes andagriculture wastewater systems. We have successfully completed one wastewaterdemonstration project with the U.S. Army Corps of Engineers and the MissouriDepartment of Natural Resources. We are incorporating the research data obtainedfrom the Missouri project with the planned demonstration projects into thecustom design of future delivery systems. Measurable outcomes of researchprojects are being implemented and documentation is being finalized fordisinfection solutions.

 

EssentialOils Division

 

       New extracts have been received from the SPDG Naturol extraction plant and theseextracts are being evaluated and tested for content and quality of five specificdesirable compounds. Assays and testing are being conducted in the laboratoriesof Coastal Carolina University and Clemson University. Our current contractallows for continuous laboratory testing for a period of 5 years.

 

11

 

 

       Currently, research is being conducted at Coastal Carolina University, under anIET, Inc. funded grant, that is utilizing essential oil extracts to determinethe effect that various concentrations of oil extracts have on sea urchin eggs.The research is expected to be completed in September of 2004.
** **
       Test samples from SPDG Naturol Ltd. ("SPDG") have been received byCoastal Carolina University, and CCU, through its close association with ClemsonUniversity, will move forward on analyzing the botanical samples and theirpotential ability to be grown in the local area. SPDG, our strategic partnerfrom Europe, owns the Exclusive Rights for extraction technology for the use inindustries such as: soybean oil for both human consumables and for industrialapplications, flaxseed oil for industrial uses, veronia for industrial epoxy,aloe, rose and jasmine for cosmeceutical use.

 

       Plans for research and development for the extracted oils are anticipated to beongoing throughout the next twelve months. We intend to incorporate the researchfindings relative to new crop products into an evolving marketing plan workingwith university agricultural research programs in areas where the agriculturaleconomy is in transition from tobacco to new, what is believed to be,financially productive replacement crops. The 150 L extraction plant equipmentis designed in modules of 50 L each to allow for the dedication of one module toresearch, development, and demonstration, while allowing the two other modulesto be utilized for production.
* 
**Expectedpurchase or sale of plant and significant equipment.**
 

       We recently moved into our new offices and production facilities and thereforedo not anticipate requiring any significant plant and/or equipment with theexception of the essential oil extraction "plant," which we ordered.We placed a deposit of $84,000 on the Plant, ordered from SPDG, which cost atotal of $280,000. We expected delivery of the plant in the second quarter of2004; however, recent information indicates we will not receive the plant untilthe fourth quarter of 2004 due to our current ability to sub-contract portionsof the "plant," itself, through United States vendors.
* 
**Significantchanges in the number of employees.

 

       We currently have 5 full time employees and 1 part time employee: 2 of whom areengaged in or directly support our research and development activities; 1 is inmanufacturing, and manufacturing support; 1 is in marketing; and 2 are inadministration. We expect a change in the number of employees over the nexttwelve months as we add assembly personnel when production commences, however,at this time we are unsure as to exactly how many additional employees we willneed.
* 
**Off-BalanceSheet Arrangements***
 

       We do not have any off-balance sheet arrangements that have or are reasonablylikely to have a current or future effect on our financial condition, changes infinancial condition, revenues or expenses, results of operations, liquidity,capital expenditures or capital resources that is material to investors.

 

12

 

 
**FACTORSTHAT MAY AFFECT OUR PLAN OF OPERATION**
 
***Weare a development stage company with a minimal operating history, which raisessubstantial doubt as to our ability to successfully develop profitable businessoperations.

 ***
       We have a limited operating history. Our prospects must be considered in lightof the risks, expenses and difficulties frequently encountered in establishing abusiness in the our intended industries. As a result of our recent execution ofa License agreement with Electro-Chemical Technologies Ltd. and Laboratory ofElectrotechnology Ltd., and a Collaborative Agreement with Coastal CarolinaUniversity, we have yet to generate revenues from operations and have beenfocused on organizational, start-up, market analysis and fund raisingactivities. There is nothing at this time on which to base an assumption thatour business operations will prove to be successful or that we will ever be ableto operate profitably. Our future operating results will depend on many factors,including:
-  our    ability to raise adequate working capital;success    of our development and technologies;demand    for our technologies;the    level of our competition;our    ability to attract and maintain key management and employees; andour    ability to efficiently develop and commercialize our    environmentally-friendly technologies while maintaining quality and    controlling costs.
       To achieve profitable operations, we must, alone or with others, successfullyexecute on the factors stated above, along with continually developing ways toenhance our production efforts, when commenced. Despite our best efforts we maynot be successful in our development efforts or obtain required regulatoryapprovals. Since inception, we have incurred a net loss of $(909,269) and atJune 30, 2004 we had stockholders' equity of $424,188.

 
***Wehave had no product sales to date, and we can give no assurance that there willever be any sales in the future.***
 

       All of our products are still in research or development, and no revenues havebeen generated to date from product sales. There is no guarantee that we willever develop commercially viable products. To become profitable, we will have tosuccessfully develop, obtain regulatory approval for, produce, market and sellour products. There can be no assurance that our product development effortswill be successfully completed, that we will be able to obtain all requiredregulatory approvals, that we will be able to manufacture our products at anacceptable cost and with acceptable quality, or that our products can besuccessfully marketed in the future.

 
***Atthis stage of our business operations, even with our good faith efforts,potential investors have a high possibility of losing their investment.***
 

       Because the nature of our business is expected to change as a result ofcompetition and the development of new and improved technology, managementforecasts are not necessarily indicative of future operations and should not berelied upon as an indication of future performance.

 

13

 

 

WhileManagement believes its estimates of projected occurrences and events are withinthe timetable of its business plan, our actual results may differ substantiallyfrom those that are currently anticipated.

 
***Wewill need additional capital in the future to finance our planned growth, whichwe may not be able to raise or it may only be available on terms unfavorable tous or our stockholders, which may result in our inability to fund our workingcapital requirements and harm our operational results.***
 

       Based on our current proposed plans and assumptions, we anticipate that ourexisting funds will only be sufficient to fund our operations and capitalrequirements for approximately 6 months. Furthermore, the commercializationexpenses of our two technologies will be very substantial, i.e., well in excessof the amount of cash that we currently have. Accordingly, we will have to (i)obtain additional debt or equity financing during the next 12-month period inorder to fund the further development of our products and working capital needs,and/or (ii) enter into a strategic alliance with a larger company to provide ourrequired funding.

 
***Ourauditor's report reflects the fact that without realization of additionalcapital, it would be unlikely for us to continue as a going concern.***
 

       As a result of our deficiency in working capital at December 31, 2003, ourauditors have included a paragraph in their report regarding substantial doubtabout our ability to continue as a going concern. Our plans in this regard areto seek additional funding through future equity private placements or debtfacilities.

 
***Becauseour common stock is deemed a low-priced "Penny" stock, an investmentin our common stock should be considered high risk and subject to marketabilityrestrictions.

 ***
       Since our common stock is a penny stock, as defined in Rule 3a51-1 under theSecurities Exchange Act, it will be more difficult for investors to liquidatetheir investment even if and when a market develops for the common stock. Untilthe trading price of the common stock rises above $5.00 per share, if ever,trading in the common stock is subject to the penny stock rules of theSecurities Exchange Act specified in rules 15g-1 through 15g-10. Those rulesrequire broker-dealers, before effecting transactions in any penny stock, to:
-  Deliver    to the customer, and obtain a written receipt for, a disclosure document;Disclose    certain price information about the stock;Disclose    the amount of compensation received by the broker-dealer or any associated    person of the broker-dealer;Send    monthly statements to customers with market and price information about the    penny stock; andIn    some circumstances, approve the purchaser's account under certain standards    and deliver written statements to the customer with information specified in    the rules.
       Consequently, the penny stock rules may restrict the ability or willingness ofbroker-dealers to sell the common stock and may affect the ability of holders tosell their common stock in the secondary market and the price at which suchholders can sell any such securities. These additional procedures could alsolimit our ability to raise additional capital in the future.

 

14

 

 
***Ourstock is thinly traded, as a result you may be unable to sell at or near askprices or at all if you need to liquidate your shares.***
 

       The shares of our common stock are thinly-traded on the OTC Bulletin Board,meaning that the number of persons interested in purchasing our common shares ator near ask prices at any given time may be relatively small or non-existent.This situation is attributable to a number of factors, including the fact thatwe are a small company which is relatively unknown to stock analysts, stockbrokers, institutional investors and others in the investment community thatgenerate or influence sales volume, and that even if we came to the attention ofsuch persons, they tend to be risk-averse and would be reluctant to follow anunproven, early stage company such as ours or purchase or recommend the purchaseof our shares until such time as we became more seasoned and viable. As aconsequence, there may be periods of several days or more when trading activityin our shares is minimal or non-existent, as compared to a seasoned issuer whichhas a large and steady volume of trading activity that will generally supportcontinuous sales without an adverse effect on share price. We cannot give youany assurance that a broader or more active public trading market for our commonshares will develop or be sustained, or that current trading levels will besustained. Due to these conditions, we can give investors no assurance that theywill be able to sell their shares at or near ask prices or at all if you needmoney or otherwise desire to liquidate their shares.

 
***Weare subject to significant competition from large, well funded companies.***
 

       The industries we intend to compete in is characterized by intense competitionand rapid and significant technological advancements. Many companies, researchinstitutions and universities are working in a number of areas similar to ourprimary fields of interest to develop new products, some of which may be similarand/or competitive to our products. Furthermore, many companies are engaged inthe development of water purifying products and methods for extracting oil frombotanicals of which may be similar and/or competitive to our products andtechnology. Most of the companies with which we compete have substantiallygreater financial, technical, manufacturing, marketing, distribution and otherresources than us.

 
***Weare highly dependent on William E. Prince, our CEO, president and chairman. Theloss of Mr. Prince, whose knowledge, leadership and technical expertise uponwhich we rely, would harm our ability to execute our business plan .

 

       Our success depends heavily upon the continued contributions of William E.Prince, whose knowledge, leadership and technical expertise would be difficultto replace, and on our ability to retain and attract technical and professionalstaff. If we were to lose his services, our ability to execute our business planwould be harmed and we may be forced to cease operations until such time as wecould hire a suitable replacement for Mr. Prince. We also have other keyemployees who manage our operations and if we were to lose their services,senior management would be required to expend time and energy to replace andtrain their replacements. To the extent that we are smaller than our competitorsand have fewer resources we may not be able to attract the sufficient number andquality of staff.

 

15

 

 
***Potentialissuance of additional common stock could dilute existing stockholders.***
 

       We are authorized to issue up to 200,000,000 shares of common stock. To theextent of such authorization, our board of directors has the ability, withoutseeking stockholder approval, to issue additional shares of common stock in thefuture for such consideration as the board of directors may consider sufficient.We are currently seeking additional equity and/or debt financing, which mayresult in additional shares of our common stock. The issuance of additionalcommon stock in the future will reduce the proportionate ownership and votingpower of the common stock offered hereby.
** 

Item3. Controls and Procedures.

 **
       We are a development stage company with no revenues during the period covered bythis quarterly report. Our board of directors had responsibility for ourinternal controls and procedures over our financial reporting.

 

       We have implemented and maintain disclosure controls and procedures whichconsist of: the control environment, risk assessment, control activities,information and communication and monitoring. Our scope of internal controltherefore extends to policies, plans procedures, processes, systems, activities,initiatives, and endeavors required of a company with our limited transactions,revenues, expenses, and operations. These controls and procedures are designedto ensure that the information required to be disclosed in our Exchange Actreports is recorded, processed, summarized and reported within the time periodsspecified in the SEC's rules.

 

       There have been no significant changes (including corrective actions with regardto significant deficiencies or material weaknesses) in our internal controls orin other factors that could significantly affect the controls subsequent to thedate of the evaluation referenced below.

 

       Within 90 days prior to the date of this report, we carried out an evaluation,under the supervision of Bill Prince, our President, of the effectiveness of thedesign and operation of the Company's disclosure controls and procedures. Basedon the foregoing, Mr. Prince concluded that, given the Company's limitedoperations, our disclosure controls and procedures were effective.

 
**PARTII - OTHER INFORMATION

Item 1.Legal Proceedings.**
 

       None

 
**Item 2.Changes in Securities.

 

       In June of 2004, we sold 14.1 units consisting of25,000 shares of restricted common stock, 25,000 series A warrants and 25,000series B warrants to 5 accredited investors for a total price of $89,421, all ofwhich was paid in cash. We believe that the issuance and sale of the shares wasexempt from the registration and prospectus delivery requirements of theSecurities Act of 1933 by virtue of Section 4(2) and Regulation D Rule 506. Theshares were issued directly by us and did not involve a public offering orgeneral solicitation. The recipients of the shares were afforded an opportunityfor effective access to files and records of the Company that contained therelevant information needed to make their investment decision, including thefinancial statements and 34 Act reports. We reasonably believe that therecipients, immediately prior to issuing the shares, had such knowledge andexperience in the financial and business matters that they were capable ofevaluating the merits and risks of there investment. The recipients had theopportunity to speak with our management on several occasions prior to theirinvestment decision. There was no commission paid on the issuance and sale ofthe shares. As of the date of this filing the shares have not been issued.

 

16

 

 
**Item 3.Defaults Upon Senior Securities.**
 

       None

 
**Item 4.Submission of Matters to a Vote of Security Holders.**
 

       On April 23, 2004 we held our annual meeting of stockholders. Business conductedat the meeting included the following proposals:

 

   (1) To change our name to Integrated Environmental Technologies, Ltd.;

   (2) To elect directors for the upcoming year;

   (3) To ratify the appointment of our auditors.

 

       Each share of Common Stock was entitled to one vote. Only stockholders of recordat the close of business on March 29, 2004, were entitled to vote. The number ofoutstanding shares at that time was 17,224,793 by approximately 94 shareholders.The required quorum of stockholders was present at the meeting.

 

Electionof New Directors

 

       On April 23, 2004, our stockholders of record on March 29, 2004, elected WilliamE. Prince, Dr. Valgene Dunham, Paul Branagan, and Michael J. Cunningham asdirectors of the Company.

 

       **William E. Prince**,****age 53****is Chairman of the Board,Chief Executive Officer, and a Director of the Company. Mr. Prince served asExecutive Director of the Albemarle Economic Development Commission from 1999 toAugust 2003. Mr. Prince was branch and regional manager of Law/Gibb Group, anemployee owned international environmental engineering consultants from 1996 to1999. Mr. Prince was Vice President and branch manager for Froehling &Robertson, a family owned environmental consulting firm from 1994 to 1996. From1990 to 1994, Mr. Prince served as Vice President for Business Development andwas a principal and owner with Ragsdale Consultants, Inc., and DSA Design Group,both privately held engineering and environmental consultants. From 1979 to 1990Mr. Prince held various management positions with Law Engineering andEnvironmental Services, an employee owned international consulting firm. Primaryresponsibilities were new ventures and company growth.

 

       **Dr. Valgene L. Dunham**, age 63, is a Director of the Company. Dr.Dunham is also the Vice President for Grants, Contract Administration andResearch Planning for Coastal Carolina University in South Carolina. In the fallsemester of 2002, Dr. Dunham served as the Special Assistant to the President ofCoastal Carolina University. In the summer of 2002, Dr. Dunham served as InterimProvost of Coastal Carolina University. From 1995 through 2002, Dr. Dunhamserved as Dean of the College of Natural & Applied Sciences of CoastalCarolina University. In 1969, Dr. Dunham received his Ph.D. in Botany fromSyracuse University in New York. In 1965, Dr. Dunham received his Masters inGeneral Science from Syracuse University in New York.

 

17

 

 

       **Paul Branagan**, age 59, is a Director of the Company. Mr. Branagangraduated from the University of Las Vegas Nevada with a B.S. in physics. From1993 to the present Mr. Branagan has been the President and Senior Scientist ofBranagan & Associates, Inc. From August 21, 2002 to present Mr. Branagan hasbeen the President and Director of Petrol Oil and Gas, Inc. From 1975 to 1993 hewas the Project Manager, Assistant Oil and Gas Division Manager and SeniorScientist of CER Corporation of Las Vegas, Nevada. Since 1999, Mr. Branagan hasbeen the President and a member of the board of directors of Millennium PlasticsCorporation, a 34 Act Reporting Nevada Corporation.

 

       **Michael J. Cunningham** OBE Mphil (Cantab), age 60, is a Director ofthe Company. From 1994 to the present, Mr. Cunningham has been Chairman and CEOof The Coach House Group UK Ltd ("CHGUK"), a specialist research anddevelopment company, based in the UK with offices and associates world-wide. Mr.Cunningham is also Chairman and CEO of The Sustainable Projects DevelopmentGroup, a UK based subsidiary of CHGUK, specializing in the identification anddevelopment of sustainable technologies utilizing natural resources andmaterials, with projects underway in several countries. Since 2000, Mr.Cunningham has been a Director of Healthworld International, a start-up companydeveloping natural medicines and neutraceutical products from botanical andanimal sources in Africa. From 1994 to 1997, Mr. Cunningham was CEO of LondonMinsk Development Company, specializing in the conversion of militarytechnologies to commercial use and the development and application of economicoffset programs. He was appointed Professor at Lancaster University in 1994. Hewas the recipient of the Yuri Gargarin Medal for services to Russian SpaceIndustry in 1993. In 1987, he was a Lecturer, Examiner and did post-graduateprograms at Cambridge University Centre of International Studies. In 1985 he wasan Officer of the Order of the British Empire

 
**Item 5.Other Information.**
 

Changeof Name

 

       On May 5, 2004, we filed a Certificate of Amendment of Certificate ofIncorporation to change our name to Integrated Environmental Technologies, Ltd.A copy of the amendment was attached as an exhibit to Form 10-QSB filed on May14, 2004.

 

OTC:BBSymbol Change

 

       In conjunction with the name change referenced above, on June 4, 2004, ourOTC:BB trading symbol changed to "IEVM".

 

Letterof Intent with Pentagon Technical Services

 

       On June 15, 2004, we executed a letter of intent with Pentagon TechnicalServices wherein we agreed to contract with Pentagon to provide for effectivedemonstration of IET-SUB EcaFlo devices in the following two commercialapplications:

 

1)a. Petroleum Industry: Upstream Application
IET-SUB,through its EcaFlo Division, will provide the appropriate HydroCide generatorfor treating surface and downhole waters for bacterial contamination.

 

18

 

 

b.Petroleum Industry: Downstream Application
IET-SUB,through its EcaFlo Division, will provide the appropriate HydroCide generatorfor treating water handling systems for cooling applications.

 

2)Surface Treatment and Disinfection within the Wine Production Industry
IET-SUBthrough its EcaFlo Division, will conduct, through its laboratories at CoastalCarolina University, lab tests to analyze bacteria that typically causecontamination in the wine production processes. IET-SUB will provide theappropriate EcaFlo HydroSan generator for on-site generation of effective EcaFlosolutions for treatment of the wine making equipment.

 

       A copy of the letter of intent is attached hereto as an exhibit.

 

NameChange of our Subsidiary

 

       On June 29, 2004, we filed a Certificate of Amendment to Articles ofIncorporation of Integrated Environmental Technologies Ltd. changing the name toI.E.T., Inc. A copy of the amendment is attached hereto as an exhibit.

 
**SubsequentEvents**
 

       In accordance with our January 2004 offering, we are under the obligation tofile a registration statement to register the common stock sold in the offeringwithin 120 days of closing of the offering. As of the date of this filing, wehave not filed the registration statement. We anticipate filing the registrationstatement by the end of the third quarter of 2004.

 
**Item 6.Exhibits and Reports of Form 8-K.**
 

(a)Exhibits
 
3*
Certificate      of Amendment to Articles of Incorporation of I.E.T., Inc. - Dated June 29,      2004.
10*
Letter      of Intent with Pentagon Technical Services - Dated June 15, 2004.
31*
Certification      pursuant to Section 302 of the Sarbanes-Oxley Act
32*
Certification      pursuant to Section 906 of the Sarbanes-Oxley Act
*Filedherewith.

 

(b)Form 8-K
 

Form  8-K filed on June 22, 2004; Press Release dated 6/17/04, Name Change and  Symbol Change.

Form  8-K filed on July 21, 2004; Press Release dated 7/16/04 - Storm water test  results.

Form  8-K filed on August 10, 2004; Press Release dated 8/05/04 - Request  Dequotation from Borse-Berlin-Bremen Exchange.

 

19

 

 
**SIGNATURES**
 

       Pursuant to the requirements of the Securities Exchange Act of 1934, theRegistrant has duly caused this report to be signed on its behalf by theundersigned, thereunto duly authorized.

 

I**NTEGRATEDENVIRONMENTAL TECHNOLOGIES, LTD.**
(Registrant)

 

 

By: /S/William E.Prince                           

     William E. Prince, President &

     Chief Financial Officer (On behalf of

     the registrant and as principal accounting

     officer)

 

Date:August 23, 2004

20******************* |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|